JPMorgan Chase & Co. Sells 53,690 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

JPMorgan Chase & Co. trimmed its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,721,843 shares of the real estate investment trust's stock after selling 53,690 shares during the period. JPMorgan Chase & Co. owned about 2.35% of Sunstone Hotel Investors worth $55,907,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SHO. Smartleaf Asset Management LLC grew its stake in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,448 shares in the last quarter. GAMMA Investing LLC grew its position in Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 1,743 shares during the last quarter. KBC Group NV grew its position in shares of Sunstone Hotel Investors by 55.4% in the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after buying an additional 3,249 shares during the last quarter. Longboard Asset Management LP acquired a new position in shares of Sunstone Hotel Investors in the 4th quarter valued at about $141,000. Finally, Heritage Family Offices LLP lifted its stake in shares of Sunstone Hotel Investors by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 969 shares during the period. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Down 3.4 %

Shares of NYSE SHO traded down $0.29 during mid-day trading on Thursday, hitting $8.33. 320,675 shares of the stock traded hands, compared to its average volume of 2,329,442. The stock has a fifty day moving average price of $10.10 and a 200-day moving average price of $10.75. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $214.77 million during the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is currently 257.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHO. Jefferies Financial Group reduced their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday. Truist Financial cut their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.00.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.